The Sleep Company, an omnichannel leader in the comfort-tech business, is eyeing to turn profitable by FY25. The company is eyeing to list in the public market in the next two to three years, a senior executive told businessline.

“This year we plan to do more than ₹500 crore in revenue and we will be profitable by Q4,” Harshil Salot, co-founder told businessline.

The company is aiming for ₹1,000 crore revenue run rate over the next two years, according to Harshil Salot.

The D2C company is opening its 100 store and plans to have more over 150 touchpoints by the end of 2024. It is also looking to expand its footprint from existing 30 to 50 cities by the end of 2024.

“From a digital-first brand to an omnichannel brand, the idea is to continue with this journey, continue with the mission to help people sleep and sit better, and over the next two to three years, we want to look at our public market listing,” said Salot.

With this omnichannel approach, the company now earns around 85 per cent of its sales from its omnichannel presence, including retail stores and online through its website.

Product portfolio

The Sleep Company produces patented SmartGrid mattresses and has also diversified into seating comfort solutions. “The sleeping segment contributes around 70 per cent of the revenue, and the rest is from the other verticals,” he added.

The company has two manufacturing sites, one each in Mumbai and Bengaluru, and two other regional fulfillment centres— Gurgaon and Kolkata.

Since December 2022, it has opened one store every 4-5 days, and all of the stores have been EBITDA profitable since the beginning of its operations.

“We have upgraded our chair portfolio and are positively surprised in the demand for that particular product. There will be a lot more innovation coming from our end as we are looking for AI based products,” he added.

The company is looking to hire around 400 to 500 people over the next few months.

The company, co-founded in 2019 by Harshil and Priyanka Salot, raised ₹184 crore in Series C from existing investors Premji Invest and Fireside Ventures in November last year.